Former UBS Asset Management (UBSAM) Australian managing director John Fraser has been promoted to one of the top two roles within the funds management behemoth.
The Australian born executive has been head of UBSAM Asia/Pacific operations for the past three years, and will take up the role of president and chief operating officer in London before the end of the year.
Fraser worked in the local operations of UBSAM from 1993 onwards and in 1995 became the head of Australian operations before moving into the Asia/Pacific post in 1998.
In his new role, he will be responsible for the business strategy, finance, information technology and human resources of the group which has more than $700 million under management.
Fraser will retain his role as head of Asia/Pacific operations and work alongside Peter Wolfley who holds the position of chairman and chief executive officer of UBSAM globally.
Fraser says the local industry is a sophisticated one and a good training ground to lever into operations in other markets and he attributes his new appointment to what had been achieved in Australia.
UBS Asset Management has also expanded its business development team in the past few months with four new business development managers coming on board to work under the director of business development Colin Woods.
